Parent companies of CASE, New Holland, Hyundai, and DEVELON combine to advance technology
An agreement signed at CES 2024 in Las Vegas will see a joint research centre established in the United States that will leverage the knowledge of several well-known construction brands to develop new technologies.
CNH, the parent company of CASE and New Holland, and HD Hyundai XiteSolution (HDX), the parent company of DEVELON and Hyundai, signed a memorandum of understanding to establish a joint research centre in the U.S.
Both companies possess an extensive background in construction with unique areas of expertise and strengths. The strategic collaboration aims to expand on their existing capabilities to accelerate the development and investment in innovative technologies for customers in the construction industry.
The CE Innovation Lab will explore innovation opportunities in the construction sector. A team comprised of both CNH and HDX construction specialists will study emerging technology trends, map new and evolving customer needs, and identify prospects for portfolio enhancements and further growth. Their work will advance the development and adoption of technologies such as automation and artificial intelligence.
In addition, the parties will mutually benefit from each other’s distinctive technological capabilities. HDX will supply CNH with the patented AAVM+ (Advanced Around View Monitoring Plus) 360-degree camera and radar system that develops enhanced safety. CNH will supply HDX with Global Navigation Satellite System technologies through its Hemisphere brand.
Moving forward, CNH and HDX anticipate expanding their collaboration within the research centre to encompass the co-development of new technologies and co-investment in innovative startups via their CNH Ventures and HD Hyundai investment arms.
“We are excited to expand our collaboration with HDX. This joint effort will strengthen our commitment to growing CNH’s construction business and position both our companies as tech authorities in the industry,” said Stefano Pampalone – President, Construction at CNH.
“It is highly encouraging that our partnership has extended beyond our product collaboration to include future technologies, a crucial factor to remain at the forefront of the construction equipment market. We look forward to working together even more closely to lead the way in the market,” said Young-Cheul Cho, President and CEO of HDX and Hyundai Infracore Co., Ltd.